Final answer:
The unit rate is $0.15 per ounce, or 15 cents/ounce when written as a fraction with labels.
Step-by-step explanation:
To calculate the unit rate, you need to determine how much one ounce costs if $1.20 is the cost for 8 ounces. Begin by dividing the total cost by the number of ounces to find the cost per ounce. This can be set up as a division problem: $1.20 ÷ 8 oz. When you divide $1.20 by 8, you get $0.15. Therefore, the unit rate is $0.15 per ounce, or as a fraction with labels, we write it as 15 cents/ounce.